This week: the $800M deal that just changed the brokerage landscape. Real Brokerage acquired RE/MAX, combining a national network of 8,500 offices with an AI-first platform. Mark and Jeff break down what it means — and whether the tech is actually impressive.

Then, a deep dive into China's real estate collapse. Prices are now back to 2005 levels — and at their peak, homes in Beijing and Shenzhen were selling at 30–50x the average household income. Japan 1990s vibes? Mark thinks yes.

Plus: the Fed held rates with the most internal dissent since October 1992. Kevin Warsh has cleared the Senate Banking Committee and is headed to the Fed chair seat.

And on the AI front — in China, installing OpenClaw is called "raising lobsters," employees get fired for NOT automating enough, but a new Penn/Boston University study warns that mass automation may quietly destroy the consumer economy that makes business work in the first place.

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